IAG insurance australia group limited
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News: IAG FY profit slides 17%

  1. FNN News
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    23/08/12
    10:33
    Post #: 10610695
    .


    Insurance Australia Group Limited’s (ASX:IAG) has posted a 17 per cent drop in its annual net profit, coming in at $207 million.



    The insurer says its result was hit by a $297 million write down on its UK businesses.



    CEO Mike Wilkins has advised the company is making progress in attempting to resurrect its fortunes in the UK and is exploring the potential sale of all or part of the business.



    IAG has declared a final fully franked dividend of 12 cents, taking its full year payout to 17 cents per share.


    IAG Price at posting: $4.00 Sentiment: None Disclosure: Held
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